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Market Commentary



 
Today's Coupons
 
  10-Year Notes   1.259%  
 
  Support   1.573%  
 
  Resistance   1.307%  
 
  FN 2.5% Coupon   103.969 (-0.016)  
 
 
 
 
  Wednesday, July 28, 2021
 
 

U.S. Futures Fluctuate, Tech Giants' shows Record Numbers, MBA Mortgage Applications Rise

 
 
The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.2660, 2.49 bps higher than prior closing of 1.2411.

U.S. futures showed a mixed reaction as the technology companies reported the earnings. Apple Inc., Microsoft Corp. and Alphabet Inc. reported about $57 billion in combined profit. Contracts on the S&P 500 were unchanged while those on the Nasdaq 100 gained. Investors are concerned about the threat to economic growth from the delta variants and tighter policy restrictions. Bitcoin reached above $40,000 continuing the recovery putting its longest winning streak this year. MBA mortgage applications index rose 5.70% in the week ended July 23. Purchases were down 1.60% after falling 6.40% in prior week whereas Refinances increased 9.30% after falling 2.80% in prior week. Treasuries fell ahead of the Federal Reserve’s rate decision.

The curve has bear-steepened with the UST 10-Year yield up 2.49 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/26 Dallas Fed Manf. Activity 07:30 Jul 31.60 27.30 31.10 -  
                   
  07/27 Durable Goods Orders 05:30 Jun P 2.20% 0.80% 2.30% 3.20%  
                   
  07/27 Durables Ex Transportation 05:30 Jun P 0.80% 0.30% 0.30% 0.50%  
                   
  07/27 FHFA House Price Index MoM 06:00 May 1.60% 1.70% 1.80% -  
                   
  07/27 S&P CoreLogic CS 20-City MoM SA 06:00 May 1.50% 1.81% 1.62% 1.66%  
                   
  07/27 S&P CoreLogic CS 20-City YoY NSA 06:00 May 16.33% 16.99% 14.88% 15.01%  
                   
  07/27 Conf. Board Consumer Confidence 07:00 Jul 123.90 129.10 127.30 128.90  
                   
  07/27 Richmond Fed Manufact. Index 07:00 Jul 20.00 27.00 22.00 26.00  
                   
  07/28 MBA Mortgage Applications 04:00 Jun 23 - 5.70% -4.00% -
                   
  07/28 Retail Inventories MoM 05:30 Jun -0.50% 0.30% -0.80% -  
                   
  07/28 Wholesale Inventories MoM 05:30 Jun P 1.10% 0.80% 1.30% -  
                   
  07/29 GDP Annualized QoQ 05:30 2Q A 8.50% - 6.40% -  
                   
  07/29 GDP Price Index 05:30 2Q A 5.40% - 4.30% -  
                   
  07/29 Initial Jobless Claims 05:30 Jul 24 385k - 419k -  
                   
  07/29 Continuing Claims 05:30 Jul 17 3186k - 3236k -  
                   
  07/30 PCE Deflator MoM 05:30 Jun 0.60% - 0.40% -  
                   
  07/30 PCE Deflator YoY 05:30 Jun 4.00% - 3.90% -  
                   
  07/30 U. of Mich. Sentiment 07:00 Jul F 80.80 - 80.80 -  
                   
 
 
 
 
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  This information is provided solely for informational use and is not intended as an advice for trading or investment purposes in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.  
 
 
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